Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jun 21, 2012 |
referred to corporations, authorities and commissions delivered to assembly passed senate |
Jun 18, 2012 |
amended on third reading 4690a |
Mar 21, 2012 |
advanced to third reading |
Mar 20, 2012 |
2nd report cal. |
Mar 19, 2012 |
1st report cal.374 |
Jan 04, 2012 |
referred to corporations, authorities and commissions |
Jun 24, 2011 |
committed to rules |
May 24, 2011 |
advanced to third reading |
May 23, 2011 |
2nd report cal. |
May 18, 2011 |
1st report cal.770 |
Apr 14, 2011 |
referred to corporations, authorities and commissions |
Senate Bill S4690
2011-2012 Legislative Session
Sponsored By
(R, C, IP) Senate District
Archive: Last Bill Status - In Assembly Committee
- Introduced
-
- In Committee Assembly
- In Committee Senate
-
- On Floor Calendar Assembly
- On Floor Calendar Senate
-
- Passed Assembly
- Passed Senate
- Delivered to Governor
- Signed By Governor
Actions
Votes
Bill Amendments
co-Sponsors
(R, C) Senate District
2011-S4690 - Details
- Current Committee:
- Assembly Corporations, Authorities And Commissions
- Law Section:
- Public Authorities Law
- Laws Affected:
- Add §2829, Pub Auth L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S3919
2013-2014: S1443
2015-2016: S2054, S6591
2017-2018: S4280
2019-2020: S3090
2021-2022: S5137
2023-2024: S979
2011-S4690 - Sponsor Memo
BILL NUMBER:S4690 REVISED 10/03/11 TITLE OF BILL: An act to amend the public authorities law, in relation to prohibiting the formation of a subsidiary of a public authority without prior permission of the legislature PURPOSE OR GENERAL IDEA OF BILL: This bill seeks to prohibit the formation of a subsidiary of a public authority or public benefit corporation without prior permission of the legislature. SUMMARY OF SPECIFIC PROVISIONS: This bill would add a new §2829 to the Public Authorities Law, to prohibit public authorities from establishing any new subsidiary corporation without prior statutory authority therefore; to grandfather all legally created subsidiaries established prior to July 1, 2012; and, to require all such previously established subsidiaries to provide a justification report to the chairs of the Senate and Assembly Committees on Corporations, Authorities and Commissions on or before March 31, 2013. JUSTIFICATION: Public Authorities, the hybrid of a government agency and a private corporation, were established to perform specific, focused missions
2011-S4690 - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4690 2011-2012 Regular Sessions I N S E N A T E April 14, 2011 ___________ Introduced by Sen. FLANAGAN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions AN ACT to amend the public authorities law, in relation to prohibiting the formation of a subsidiary of a public authority without prior permission of the legislature THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The public authorities law is amended by adding a new section 2829 to read as follows: S 2829. SUBSIDIARIES OF PUBLIC AUTHORITIES. 1. NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, NO PUBLIC BENEFIT CORPORATION SHALL ESTABLISH A SUBSIDIARY CORPORATION WITHOUT STATUTORY CODIFICATION. 2. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION ONE OF THIS SECTION, ANY SUBSIDIARY OF A PUBLIC AUTHORITY DULY AND LAWFULLY FORMED PRIOR TO THE FIRST DAY OF JULY, TWO THOUSAND TWELVE, SHALL BE DEEMED TO BE A PUBLIC AUTHORITY UNDER THE TERMS OF THIS CHAPTER, AND NOTWITHSTANDING ANY OTHER PROVISION OF LAW TO THE CONTRARY, SHALL BE SUBJECT TO ALL THE REQUIREMENTS, DUTIES AND RESPONSIBILITIES PROVIDED IN THIS CHAPTER. 3. ON OR BEFORE THE THIRTY-FIRST DAY OF MARCH, TWO THOUSAND THIRTEEN, ANY SUBSIDIARY PUBLIC BENEFIT CORPORATION, IN COOPERATION WITH ITS PARENT PUBLIC BENEFIT CORPORATION, SHALL PROVIDE TO THE CHAIRMAN AND RANKING MINORITY MEMBER OF THE SENATE FINANCE COMMITTEE AND THE CHAIRMAN AND RANKING MINORITY MEMBER OF THE ASSEMBLY WAYS AND MEANS COMMITTEE, A REPORT ON THE SUBSIDIARY PUBLIC BENEFIT CORPORATION. SUCH REPORT SHALL INCLUDE FOR EACH SUBSIDIARY: (A) THE COMPLETE LEGAL NAME, ADDRESS AND CONTACT INFORMATION OF THE SUBSIDIARY; (B) THE STRUCTURE OF THE ORGANIZATION OF THE SUBSIDIARY, INCLUDING THE NAMES AND TITLES OF EACH OF ITS MEMBERS, DIRECTORS AND OFFICERS, AS WELL AS A CHART OF ITS ORGANIZATIONAL STRUCTURE; EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD07376-01-1
co-Sponsors
(R, C) Senate District
2011-S4690A (ACTIVE) - Details
- Current Committee:
- Assembly Corporations, Authorities And Commissions
- Law Section:
- Public Authorities Law
- Laws Affected:
- Add §2829, Pub Auth L
- Versions Introduced in Other Legislative Sessions:
-
2009-2010:
S3919
2013-2014: S1443
2015-2016: S2054, S6591
2017-2018: S4280
2019-2020: S3090
2021-2022: S5137
2023-2024: S979
2011-S4690A (ACTIVE) - Sponsor Memo
BILL NUMBER:S4690A TITLE OF BILL: An act to amend the public authorities law, in relation to prohibiting the formation of a subsidiary of a public authority without prior permission of the legislature PURPOSE OR GENERAL IDEA OF BILL: This bill seeks to prohibit the formation of a subsidiary of a public authority or public benefit corporation without prior permission of the legislature. SUMMARY OF SPECIFIC PROVISIONS: This bill would amend section 2827-a of the Public Authorities Law, to eliminate the exception to the general prohibition against public authorities establishing any new subsidiary corporation without prior statutory authority. JUSTIFICATION: Public Authorities, the hybrid of a government agency and a private corporation, were established to perform specific, focused missions on behalf of the people of the state of New York. As finance, contracting and operating entities, they have the flexibility and power to accomplish great tasks. From bridge, edifice, infrastructure, school and highway building, to the operation of
2011-S4690A (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 4690--A Cal. No. 374 2011-2012 Regular Sessions I N S E N A T E April 14, 2011 ___________ Introduced by Sens. FLANAGAN, LARKIN -- read twice and ordered printed, and when printed to be committed to the Committee on Corporations, Authorities and Commissions -- recommitted to the Committee on Corpo- rations, Authorities and Commissions in accordance with Senate Rule 6, sec. 8 -- reported favorably from said committee, ordered to first and second report, ordered to a third reading, amended and ordered reprinted, retaining its place in the order of third reading AN ACT to amend the public authorities law, in relation to prohibiting the formation of a subsidiary of a public authority without prior permission of the legislature THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Subdivision 1 of section 2827-a of the public authorities law, as added by chapter 506 of the laws of 2009, is amended to read as follows: 1. Notwithstanding any law to the contrary, no state authority shall hereafter have the power to organize any subsidiary corporation unless the legislature shall have enacted a law granting such state authority such power for the organization of a specific corporation[, provided, however, that a state authority may organize a subsidiary corporation pursuant to the following requirements: a. the purpose for which the subsidiary corporation shall be organized shall be for a project or projects which the state authority has the power to pursue pursuant to its corporate purposes; b. the primary reason for which the subsidiary corporation shall be organized shall be to limit the potential liability impact of the subsidiary's project or projects on the authority or because state or federal law requires that the purpose of a subsidiary be undertaken through a specific corporate structure; and c. the]. ANY subsidiary corporation shall make the reports and other disclosures as are required of state authorities, unless the subsidiary corporation's operations and finances are consolidated with those of the authority of which it is a subsidiary. S 2. This act shall take effect immediately.
Comments
Open Legislation is a forum for New York State legislation. All comments are subject to review and community moderation is encouraged.
Comments deemed off-topic, commercial, campaign-related, self-promotional; or that contain profanity, hate or toxic speech; or that link to sites outside of the nysenate.gov domain are not permitted, and will not be published. Attempts to intimidate and silence contributors or deliberately deceive the public, including excessive or extraneous posting/posts, or coordinated activity, are prohibited and may result in the temporary or permanent banning of the user. Comment moderation is generally performed Monday through Friday. By contributing or voting you agree to the Terms of Participation and verify you are over 13.
Create an account. An account allows you to sign petitions with a single click, officially support or oppose key legislation, and follow issues, committees, and bills that matter to you. When you create an account, you agree to this platform's terms of participation.